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Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal

ADELSON GROUP CRIES UNCLE IN LITIGATION WITH FORMER MACAU SENIOR EXECUTIVE
 
Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal.
 
Sheldon Adelsons Las Vegas Sands Corp. has agreed to pay more than $75 million to settle a lawsuit by its former top Macau executive, Steve Jacobs, whose allegations prompted federal bribery investigations into the company, according to a report in the Wall Street Journal Tuesday.
 
The Las Vegas-based online gambling group settled the almost six-year wrongful termination judicial dispute lodged by Jacobs, the former CEO of Sands China
 
Sands China filed papers with the Hong Kong Stock Exchange announcing the settlement, observing:
 
“On or about May 31, 2016, the parties to the Proceedings reached a comprehensive and confidential settlement through which Mr. Jacobs dismissed all claims in the Nevada state and federal cases against our controlling shareholder, Las Vegas Sands Corp., the Company, our subsidiary Venetian Macau Limited, and Mr. Sheldon Gary Adelson and released all claims as of that date.”
 
The now abandoned action saw LVS fighting to avoid the Las Vegas courts exercising jurisdiction over the termination of Jacobs; some testy exchanges between Adelson and the presiding judge in Las Vegas, Elizabeth Gonzales, and an unsuccessful attempt by LVS to have the judge taken off the case.
 
There were also some startling revelations on how LVS operations in Asia were handled, which attracted the attention of the authorities and resulted in LVS paying hefty multi-million dollar state and federal regulatory fines.



Gambling News :

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

Historic weekend at Americas CardRoom - ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.

WPN Affiliates Headed to Berlin Affiliate Conference - With the Berlin Affiliate Conference just over a week away, WPN Affiliates is making a bold statement. The online poker affiliate network announced that they are eager to buy traffic and ready to make deals with affiliates looking to capitalize on some big innovations.

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